Funding you earn now, next payment 02:00 UTC+0.0183%/8h= +20.0% APRnext payment +$0.23 per $10,000 · paid last 24h +0.076%
Price spread now: Phoenix against Vest−0.043%58s7-day average −0.642% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)+0.031%+$3 on $10k
+Price spread, last 4 days (all we have)+0.098%+$10 · spread now −0.043%, 7d avg −0.642%
=Together, before fees+0.129%+ Points / potential airdropVest: Active · farm board+$13 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Phoenix is 0.599% dearer against Vest than usual: you sell high and buy low: +$60 more if the spread goes back to its 7-day average of −0.642%. The two prices were read 58 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.031% in total (about 3.4% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.23 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Vest MU-USD-PERP | 1,050.7 | 0.0046 | pay 0.0006% / 1h | 47m 45s | — | $175K | 25x |
| Short | Phoenix MU | 1,050.2 | 0.0229 | get 0.0029% / 1h | 47m 45s | $537K | $271K | 15x |
Vest MU-USD-PERP
Phoenix MUFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Vest. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $38.43
- Price spread: −0.043% → −0.642%
- $59.92
- Slippage, 4 orders
- no order book: not counted
- Fee Vest: 1 bp × 2 orders
- −$2
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $89.35
- Costs to cover
- 0.090%
- Break-even
- from the start
Slippage unknown: Vest: no order-book sample; Phoenix: live order book, 15 min ago. Net counts fees only.
Cost to enter
taker fee + slippage from the mid, one side; closing costs about the same again| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy Vest no order-book sample | — | — | — | — | — |
| Sell Phoenix live order book, 15 min ago | 2.85 bp | 10.7 bp −$11 | 22.6 bp −$226 | doesn't fit | doesn't fit |
Vest: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
MU on 36 venues
lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| edgeX MUUSDC | −0.0504% | 4h | 1,050.4 | −0.022% | $1.3M | $671K | 10x | as long as short |
| RISEx MU/USDC | 0.0000% | 1h | 1,050 | −0.059% | $333K | $349K | 20x | as long as short |
| Gate MU_USDT | 0.0000% | 8h | 1,049.9 | −0.075% | $62.1M | $27.4M | 75x | as long as short |
| StandX MU-USD | 0.0000% | 1h | 1,050.1 | −0.050% | $190K | $3.4M | 20x | as long as short |
| SunX MU-USDT | 0.0000% | 8h | 1,051.5 | +0.079% | $11K | $5.9M | 10x | as long as short |
| Deribit MU_USDC-PERPETUAL | 0.0000% | 1h | 1,049.6 | −0.099% | $66K | $356K | 10x | as long as short |
| HTX MU-USDT | 0.0000% | 8h | 1,049.6 | −0.102% | $129K | $427K | 50x | as long as short |
| Bybit MUUSDT | +0.0017% | 8h | 1,050.1 | −0.055% | $19.1M | $32.4M | 100x | as long as short |
| Aftermath Perps MUUSD | +0.0019% | 1h | 1,049.9 | −0.072% | $3K | $44K | 10x | as long as short |
| GRVT MU_USDT_Perp | +0.0024% | 8h | 1,050.8 | +0.012% | $79K | $1.3M | 10x | as long as short |
edgeX MUUSDC
RISEx MU/USDC
Gate MU_USDT
StandX MU-USD
SunX MU-USDT
Deribit MU_USDC-PERPETUAL
HTX MU-USDT
Bybit MUUSDT
Aftermath Perps MUUSD
GRVT MU_USDT_PerpShow all 36 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| QFEX MU-USD | +0.0030% | 1h | 1,049.6 | −0.101% | $7.3M | $18.4M | 10x | as long as short |
| Lighter RH MU | +0.0032% | 1h | 1,049.9 | −0.074% | $1.2M | $4.2M | 10x | as long as short |
| Injective MU/USDC PERP | +0.0033% | 1h | 1,051.4 | +0.068% | $19K | $5K | 12x | as long as short |
| Extended MU_24_5-USD | +0.0040% | 1h | 1,049.4 | −0.119% | $564K | $1.1M | 10x | as long as short |
| Arcus MU-USD | +0.0040% | 1h | 1,050 | −0.058% | $71K | $235K | 10x | as long as short |
| OKX MU-USDT-SWAP | +0.0041% | 8h | 1,050 | −0.067% | $31.0M | $100.0M | 50x | as long as short |
| Vest MU-USD-PERPlong | +0.0046% | 1h | 1,050.7 | long leg | — | $175K | 25x | |
| Polymarket Perps MU-USD | +0.0050% | 1h | 1,049.6 | −0.100% | $170K | $202K | 10x | as long as short |
| SoDEX MU-USD | +0.0050% | 1h | 1,049.9 | −0.069% | $689K | $16K | 10x | as long as short |
| Ondo Perps MU-USD.P | +0.0050% | 1h | 1,048.9 | −0.163% | $1.9M | $2.3M | 10x | as long as short |
| Paradex MU-USD-PERP | +0.0059% | 8h | 1,049.9 | −0.076% | $2K | — | 5x | as long as short |
| Lighter MU | +0.0080% | 1h | 1,049.9 | −0.072% | $1.1M | $4.8M | 20x | as long as short |
| Coinbase International MU-PERP-INTX | +0.0096% | 1h | 1,049.9 | −0.068% | $756K | $1.2M | 10x | as long as short |
| Pacifica MU | +0.0100% | 1h | 1,049.8 | −0.082% | $148K | $185K | 10x | as long as short |
| KuCoin MUUSDTM | +0.0100% | 8h | 1,050 | −0.066% | $5.3M | $3.4M | 20x | as long as short |
| ApeX Omni MUUSDT | +0.0100% | 1h | 1,050.8 | +0.014% | $71K | $268K | 50x | as long as short |
| Orderly PERP_MU_USDC_mythos | +0.0100% | 8h | 1,050 | −0.060% | $835 | $799 | 20x | as long as short |
| Nado MU-PERP | +0.0104% | 1h | 1,049.7 | −0.094% | $280K | $849K | 10x | as long as short |
| Aster MUUSD1 | +0.0108% | 8h | 1,050.2 | −0.045% | $21.4M | $52.1M | 20x | as long as short |
| tradeXYZ xyz:MU | +0.0111% | 1h | 1,049.7 | −0.090% | $178.2M | $99.2M | 10x | as long as short |
| Aevo MU-PERP | +0.0120% | 1h | 1,049.6 | −0.102% | $32K | $1K | 10x | as long as short |
| Variational Omni MU | +0.0144% | 8h | 1,050.4 | −0.020% | $2.7M | $2.3M | — | as long as short |
| Bullet MU-USD | +0.0145% | 1h | 1,050.1 | −0.056% | $26K | $397K | 10x | as long as short |
| Binance MUUSDT | +0.0163% | 8h | 1,049.9 | −0.069% | $126.4M | $520.0M | 50x | as long as short |
| Bitget MUUSDT | +0.0165% | 8h | 1,050 | −0.065% | $20.6M | $41.2M | 50x | as long as short |
| Phoenix MUshort | +0.0229% | 1h | 1,050.2 | −0.043% | $537K | $271K | 15x |
QFEX MU-USD
Lighter RH MU
Injective MU/USDC PERP
Extended MU_24_5-USD
Arcus MU-USD
OKX MU-USDT-SWAP
Polymarket Perps MU-USD
SoDEX MU-USD
Ondo Perps MU-USD.P
Paradex MU-USD-PERP
Lighter MU
Coinbase International MU-PERP-INTX
Pacifica MU
KuCoin MUUSDTM
ApeX Omni MUUSDT
Orderly PERP_MU_USDC_mythos
Nado MU-PERP
Aster MUUSD1
tradeXYZ xyz:MU
Aevo MU-PERP
Variational Omni MU
Bullet MU-USD
Binance MUUSDT
Bitget MUUSDT